Ligue 1 champions Monaco have extended their head coach Leonardo Jardim's contract until 2020, the football club announced, dismantling rumours that the Portuguese was moving in the direction of Chinese Super League (CSL) club Beijing Guoan.

"I am very happy to continue my work in Monaco. Last three seasons here were exceptional, especially when we were crowned in the league this May," said Jardim after his contract extension.

Having coached Braga, Olympiakos and Sporting Lisbon, Jardim arrived in Monaco in 2014. He led the team, which ended Paris Saint-Germain's (PSG) four-year dominance in the domestic league, and helped them make it to the semi-finals in the UEFA Champions League, the final in the League Cup and the semi-finals in the French Cup.

Since his arrival in the Principality club, Monaco have been transformed into one of the best attacking teams in Europe, scoring a total of 107 league goals and over 150 goals in all competitions last season.

"He is one of the best coaches in European football. Despite the solicitations, he has chosen to continue the adventure at Monaco, which demonstrates our ambition," the club's vice president Vadim Vasilyev said on Wednesday.

"We had a common desire to continue to develop the club's project. It is a great honour to announce today the extension of his contract until 2020," Vasilyev added.

According to Portuguese media, Beijing Guoan offered a three-year contract worth $40.5 million to Jardim. Some English Premier League (EPL) clubs were also reported to show interest in him.

After a successful season, Monaco have faced huge challenges to maintain their roster against the solicitations of top European clubs.